CCSD BOA REVI ARD OF TR ISED AGEN RUSTEES NDA

Recommendations

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For the payment of the principal of and interest on the Notes as the same shall fall due, the full faith, credit, resources and taxing power of the School District are hereby irrevocably pledged. In addition thereto, so much of the [proceeds of the sales and use tax authorized by Title 4, Chapter 10, Article 4 of the Code of Laws of South Carolina 1976, as amended, a resolution adopted by the Board on [August 9, 2010/August 14, 2014], and the successful results of a referendum held within the District [on November 2, 2010/November 4, 2014] (the "Sales and Use Tax – Phase __") or the] principal proceeds of a series of general obligation bonds (the "Bonds") to be issued by the School District shall be applied, to the extent necessary, to the payment of the Notes; and, further, the School District has covenanted and irrevocably pledged to effect the issuance of the Bonds [to the extent that it does not hold proceeds of the Sales and Use Tax – Phase __ in an amount sufficient to provide for the retirement of the Notes] or, in the alternative, to refund or renew outstanding Notes in order that the proceeds thereof will be sufficient to provide for the retirement of the Notes. [The Notes are being issued by means of a book-entry system with no physical distribution of Note certificates to be made except as provided in the Resolution. One note certificate with respect to the Notes, registered in the name of the Securities Depository Nominee, is being issued and is required to be deposited with the Securities Depository and immobilized in its custody. The book-entry system will evidence positions held in the Notes by the Securities Depository's Participants, beneficial ownership of the Notes in the principal amount of $5,000 or any integral multiple thereof being evidenced in the records of such Participants. Transfers of ownership shall be effected on the records of the Securities Depository and its Participants pursuant to rules and procedures established by the Securities Depository and its Participants. The School District and the Registrar/Paying Agent will recognize the Securities Depository Nominee, while the Registered Holder of this note, as the owner of this note for all purposes, including payments of principal of and interest on this note, notices and voting. Transfer of principal and interest payments to Participants of the Securities Depository will be the responsibility of the Securities Depository, and transfer of principal and interest payments to beneficial owners of the Notes by Participants of the Securities Depository will be the responsibility of such Participants and other nominees of such beneficial owners. The School District will not be responsible or liable for such transfers of payments or for maintaining, supervising or reviewing the records maintained by the Securities Depository, the Securities Depository Nominee, its Participants or persons acting through such Participants. While the Securities Depository Nominee is the owner of this note, notwithstanding, the provision hereinabove contained, payments of principal of and interest on this note shall be made in accordance with existing arrangements between the Registrar/Paying Agent or its successors under the Resolution and the Securities Depository.] This note is transferable only upon the books of the School District kept for that purpose at the principal office of the Registrar/Paying Agent by the Registered Holder hereof in person or by his duly authorized attorney upon surrender of this note together with a written instrument of transfer satisfactory to the Registrar/Paying Agent duly executed by the Registered Holder or his duly authorized attorney. Thereupon a new fully registered Note or Notes of the same aggregate principal amount shall be issued to the transferee in exchange herefor as provided in the Resolution. The School District and the Registrar/Paying Agent may deem and treat the person in whose name this note is registered as the absolute owner hereof for the purpose of receiving payment of or on account of the principal hereof and interest due hereon and for all other purposes. The School District shall not be obligated to issue, exchange or transfer any Note after ___________, 201__. Under the laws of the State of South Carolina, this note and the interest hereon are exempt from all State, county, municipal, school district and other taxes or assessments, direct or indirect, general or special, whether imposed for the purpose of general revenue or otherwise, except inheritance, estate or transfer taxes, but the interest hereon may be included in certain franchise fees or taxes. B - 2 2/22/16 Board Agenda Agenda Item 9.5B (A&F D-IX) Page 39 of 49
It is hereby certified and recited that all acts, conditions and things required by the Constitution and laws of the State of South Carolina to exist, to happen and to be performed precedent to or in the issuance of this note exist, have happened and have been performed in regular and due time, form and manner as required by law; that the amount of this note, together with all other general obligation and bonded indebtedness of the School District does not exceed the applicable limitation of indebtedness under the laws of the State of South Carolina; and that provision has been made for the levy and collection of a tax, without limit, on all taxable property in the School District sufficient to pay the principal and interest of this note at the maturity thereof and to create such sinking fund as may be necessary therefor. IN WITNESS WHEREOF, the Board of Trustees of Charleston County School District, South Carolina, the governing body of the School District, has caused this note to be signed by the manual signature of the Chair and its corporate seal to be hereunto impressed and attested to by the manual signature of its Secretary. (SEAL) CHARLESTON COUNTY SCHOOL DISTRICT, SOUTH CAROLINA By: Chair, Board of Trustees Attest: Secretary, Board of Trustees CERTIFICATE OF AUTHENTICATION This Note is one of the Notes of the issue described in the within mentioned Resolution. CHARLESTON COUNTY SCHOOL DISTRICT, SOUTH CAROLINA as Registrar/Paying Agent By: Superintendent Authentication Date: _______________, 2016 B - 3 2/22/16 Board Agenda Agenda Item 9.5B (A&F D-IX) Page 40 of 49
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CCSD BOARD OF TRUSTEES REVISED AGEN
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CCSD BOA REVI ARD OF TR ISED AGEN RUSTEES NDA

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